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1. Pattern rec says that this is coming out of a 1st stage(b) base.
2. Negatives are pretty obvious. Earnings deceleration in the past two quarters but growth is still healthy.
3. Volume was great launching of the 50 day on 3/23.
4. ROE is a terrific 52%
5. Follow on accumulation showed up immediately on 3/26 closing at the highs. So perhaps we give it two legs up meaning I might give a little flexibility in my 4 days without accumulation sell rule. Some may be having a conniption that I keep reading the daily chart. They are free to post weekly charts as they wish.
6. Four days occur without accumulation 3/27-3/31. Still it's so high and tight that waiting for a second leg up seems reasonable
7. The next new high comes in on 4/2 and 4/3 on only average volume. Assuming that 4/3 was the ideal sell day, how do we read that? A second leg, new high, late in a market run, accumulating on only average volume after 4 days without accumulation.?? :-) That and the QQQ big reach in low volume on 3/26.. Yeah I can spot that and lighten up my holdings into that action.
Abe...Nice capture of sensing the daily market read on the second leg attempt. I missed that on SWI and exited late...Gee probably hoping a bit and hope is not a strategy. So, one learns from mistakes. Thanks for your advice here.
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